Should I Accept a £10k Loss to Go Electric? Advice Needed From Mercedes to Hyundai Ioniq 5 Owners

[190]

At £12000 you E220d is going to be a tremendously good buy for someone - why not you. i.e. keep it and spread the depreciation over a longer period of years. With your low annual miles the difference in fuelling cost between a E220d and an EV must be insignificant compared to depreciation and the insurance cost for a newer EV is likely to be higher too which will offset any savings. There will be some things about an EV that are better than your E Class and some things worse like image and possibly ride quality A good car is a good car irrespective of age as long as it remains reliable with no major bills.

I'm afraid I would cry at losing £10K depreciation in 2 years as I've never lost more £1000 per year on a car but that's because I buy used and keep them a long time, the last MB for 10 years and the one before that for 21 years.

 

[Bobby Dazzler]

Mine was purchased new it's now gained circa 66% in value.

Who knew the EQS would turn out to be an investment piece?

 

[MikeInWimbledon]

Stick where you are.

I can't believe we've managed to go through three pages of chitter chatter without "doing some numbers."

The only values that matter are today's values. Not "hoped for," "was once," or "might be in the future."
Yes, your Merc was £22k two years ago, but your target Ioniq5 was probably worth £35k two years ago too

You've got a £14k 220d on x miles, that's costing you peanuts to run at the rate of 5,000 miles a year.

But you're contemplating throwing in another £6 k to buy an electric which will save you maybe £500 a year in fuel costs (only if charged at home) and road tax.
Plus maybe £500 a year in servicing and repairs.

(I assume that you won't be wasting money on a £1000 home charger install: a £100 Granny charger will give you 100 miles a week from a 12 hour charge)

I can't see why you would want to make the change? Why would you? Why take on the hassle of learning the new tech just to do 5,000 miles a year?

 

[MSG2004]

Mine was purchased new it's now gained circa 66% in value.

Of course it can happen and often hppens to those cars on a massive waiting list. The a year or 2 after coronavirus was disclosed to the public, shortages of micro-chips meant many cars especially those in high demand, commanded higher prices as used cars than when brand new.

When I was a kid, a guy worked with dad who bought a brand new merc every year this is over 50/55 years ago and as there was a waiting list for certain merces he drove the car around for a few months then sold it more than he'd paid for it.

However, on the whole, it is money down the drain buying new/used that is up to 3/4 years old and selling 2/3 yrs later

my first brand new merc is the gle - 24k miles i have had it just over 9 years - still looks the business when washed about once every 9/12 months -
I've not change it to the newer version or another car as i'm old nearing pesnion age and the worry of parking my car next to clowns who don't appreciate other peoples hard work and smash their door, handbag, old bags into ones car.

 

[W1ghty]

If you stick with your current car and don’t get solar/battery and home charger , just keep the money in the bank .
Unless there are decent feed in tariffs for excess solar (which there aren’t ) all you are doing is paying the £10-15k up front for your energy bills .

 

[nyssa7]

100% - that's all I was getting at in terms of being a sole car / daily driver. Obviously if people spread their mileage across several cars then none of them get used as much as if they only have one.



I think @markjay covered 9k miles in 4 years in his Ioniq (so 2,250 a year) and @Mactech was doing under 5k miles a year in his i3 (neither being sole cars). IIRC UK average annual mileage per car is around 7,500 at the moment? Maybe a topic for the EV fact thread ... even a quick head count of current EV owners would be interesting.

It’s the working from home thing that cuts my mileage, the AMG and the Lotus struggle to 3-4000 miles a year between them, the Ioniq 5 is the go-to as it’s best for the local commuting where the AMG gearbox oil wouldn’t even reach temperature

I’ve only done the occasional long run in my Ioniq 5, registered 29/12/22 and likely to pass 20k miles next weekend

 

[BlackC55]

The ultimate re-cycling is to keep what you have and maintain it when necessary until it becomes uneconomical.

 

[MikeInWimbledon]

The ultimate re-cycling is to keep what you have and maintain it when necessary until it becomes uneconomical.

And keeps CO2 pollution down: you're looking at 20 tonnes of CO2 to produce a new car.

 

[BlackC55]

We need CO2 though. Lots of it too.......

 

[MikeInWimbledon]

We need CO2 though. Lots of it too.......

I'm breathing as fast as I can. (cough, cough)

 

[BlackC55]

I'm breathing as fast as I can. (cough, cough)

I run my E55 next to trees at idle all day. I am doing my part.

 

[pioneercollector]

The ultimate re-cycling is to keep what you have and maintain it when necessary until it becomes uneconomical.

My ethos 100%

 

[Bobby Dazzler]

The ultimate re-cycling is to keep what you have and maintain it when necessary until it becomes uneconomical.

Wise words

I do that too, and not just cars.

I buy things that I really really like and keep them a very long time. I am prepared to spend a little more to buy the best quality I can and then keep it tip top.

It’s very very rare that I sell anything or even throw anything away. Cars, clothes, electrical equipment, etc. I do sometimes buy more, but they are treated the same.

 

[jotter22]

I followed an Ioniq 6 down the motorway the other day from the back looks like a 911 that Leepu and Bernie Collins made

Thanks Tony.

 

[markjay]

I followed an Ioniq 6 down the motorway the other day from the back looks like a 911 that Leepu and Bernie Collins made

Thanks Tony.

Going against the grain here, but I am not a fan of the trend that MB started with the CLS some twenty years ago. Over the years, it was adopted by Audi and VW and now by Hyundai. Not for me.

 

[SmartAmg]

Going against the grain here, but I am not a fan of the trend that MB started with the CLS some twenty years ago. Over the years, it was adopted by Audi and VW and now by Hyundai. Not for me.

Must admit I like, that type of saloon car, 4 door coupe, think they look great.
Think the nicest looking one is the,
Passat CC. But each to there own.

 

[MikeInWimbledon]

Going against the grain here, but I am not a fan of the trend that MB started with the CLS some twenty years ago. Over the years, it was adopted by Audi and VW and now by Hyundai. Not for me.

I'm with @markjay on this one. I loved the look of the CLS when it came out, and admired a neighbour's car when I walked past every morning.

But then I sat in the back of one.

Best described as "training for waking up in the coffin on the way to your funeral." Very enclosed, and dark with limited visibility all round.

And, from the driver's perspective: yes, you get the length of wheelbase, which is nice, but against that you get the limitations of size, without the benefit of generous internal capacity.

Going back to the Ioniq6 specifically, it ought to look sporty, but I'm not sure it carries it off.

 

[SmartAmg]

I'm with @markjay on this one. I loved the look of the CLS when it came out, and admired a neighbour's car when I walked past every morning.

But then I sat in the back of one.

Best described as "training for waking up in the coffin on the way to your funeral." Very enclosed, and dark with limited visibility all round.

And, from the driver's perspective: yes, you get the length of wheelbase, which is nice, but against that you get the limitations of size, without the benefit of generous internal capacity.

Going back to the Ioniq6 specifically, it ought to look sporty, but I'm not sure it carries it off.

Agree with all you say. But your not buying that type of car for the space. Your buying it coz of the looks. If you want space, get an E class saloon.

 

[Pontoneer]

And EVs are indeed intrinsically more reliable than ICE cars. In practice, ICE cars have been around for over 120 years, while EV tech is just a decade old. But the latter does not contradict the former.

Actually , there have been electric cars around for over a century too .

When the Arrol-Johnstone factory opened in Dumfries circa 1912-1915 , they were making electric cars for Thomas Edison , who marketed them in the USA .

If you visit Edison's home nowadays , which is a visitor centre , part of the exhibit is his garage , where there is an Edison Electric car sitting alongside a Model T Ford - apparently Ford and Edison were friendly rivals in much the same way that William Stanier and Sir Nigel Gresley were when they vied with each other to build the best steam locomotives . Gresley was also a friend of Ettore Bugatti and took onboard his ideas about streamlining when designing the A4 Pacific locomotives , and in turn Stanier adopted the idea for the streamlined Coronation Class locos ; both can now be seen sitting alongside each other in the national Railway museum in York , I was there quite recently .

 

[Pontoneer]

Stick where you are.

I can't believe we've managed to go through three pages of chitter chatter without "doing some numbers."

The only values that matter are today's values. Not "hoped for," "was once," or "might be in the future."
Yes, your Merc was £22k two years ago, but your target Ioniq5 was probably worth £35k two years ago too

You've got a £14k 220d on x miles, that's costing you peanuts to run at the rate of 5,000 miles a year.

But you're contemplating throwing in another £6 k to buy an electric which will save you maybe £500 a year in fuel costs (only if charged at home) and road tax.
Plus maybe £500 a year in servicing and repairs.

(I assume that you won't be wasting money on a £1000 home charger install: a £100 Granny charger will give you 100 miles a week from a 12 hour charge)

I can't see why you would want to make the change? Why would you? Why take on the hassle of learning the new tech just to do 5,000 miles a year?



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Without wishing to be disrespectful towards anyone , I think that statement highlights the need to distinguish between something that COSTS a certain amount and being WORTH that figure .

From my POV the Ioniq may well have COST that much , if someone were willing to pay it , but its WORTH , to me , would be zero , because I have no interest at all in owning any kind of EV .

There are many others who share my viewpoint , and who consider EVs , because of the toxic metals contained in the batteries which do not go away over time and are thus more polluting than environmental gases , which the ecosystem will purge over time , are much more harmful .

Neither ICE nor electric vehicles are ideal , hydrogen fuel cells strike me as the most ecologically viable , but having driven a number of EVs , I'm not impressed with the experience , and their WORTH to me is zero .